Supie collapse: Online supermarket first sought help in April

Name: Supie in administration, Airbnb crime rates and Kiwis get spooky | Focus Morning Bulletin October 30, 2023
Uploaded: 2023-10-31T08:50:05+13:00
Duration: 147 s
Description: Online grocers entered voluntary administration with PWC, study finds areas with more Airbnbs have higher rates of property crime and Kiwis are shopping up large for halloween season this year. Video / NZ Herald / Getty

NZ Herald

2 Nov, 2023 09:20 PMQuick Read

Online grocers entered voluntary administration with PWC, study finds areas with more Airbnbs have higher rates of property crime and Kiwis are shopping up large for halloween season this year. Video / NZ Herald / Getty

Supie founder Sarah Balle first approached PwC for help more than six months before her online-grocer startup went under this week, BusinessDesk reports.

That was because the company had “exhausted” all funding options and was looking to start an insolvency process, according to the company’s administrators.

Creditors of Supie – owed roughly $3 million – are being called together next Thursday to decide on the business’ future.

Founded by Balle two years ago, Supie intended to introduce competition to the supermarket industry.

After Balle went to PwC in April this year, Supie was approached by a “significant investor”, who was looking to commence a funding round for the business and “alleviate” its funding requirements.

Click here for the full BusinessDesk story